Apple is officially worth more than $1 trillion

Apple is officially worth more than $1 trillion

Apple is officially worth more than $1 trillion

The Nasdaq finished decisively higher on Thursday (Aug 2) as Tesla shares enjoyed huge gains following earnings and Apple became the first private company to hit US$1 trillion in market value.

Apple has become the world's first public company to be worth $1 trillion.

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Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina, has included Apple in his clients' portfolios for about a decade.

Apple is benefiting from investor euphoria surrounding the tech sector broadly as well - and it could soon have company in the trillion dollar club. Also propelling Apple higher in recent months was Apple's announcement that it earmarked $100 billion for a new share repurchase program. And as long as these companies continue to generate long-term earnings growth - as virtually every analyst expects - their share prices will continue to rise over the long haul. The rise of Apple was brought forth by Steve Jobs' innovative products in the iPod, iPhone, and others, revolutionizing the way we view technology today.

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Apple CEO Tim Cook has a photo taken during an Apple event at the main store in Chicago.

Apple on Wednesday stated in a regulatory filing that as of July 20, 2018, the company had 4,829,926,000 shares, said Howard Silverblatt, a senior index analyst with S&P Dow Jones Indices.

The milestone also means that Apple is worth more than just about any country on the planet, there are only 16 that it is worth less than. Apple said it now has 4.83 billion shares outstanding. Five of the 10 largest USA companies by market cap on Thursday were tech companies, including Amazon, Alphabet, and Facebook.

As Jobs' top lieutenant, Cook oversaw the intricate supply chain that fed consumers' appetite for Apple's devices and then held the company together in 2004 when Jobs was stricken with a cancer that forced him to periodically step away from work - sometimes for extended leaves of absences.

Last month, an ex-Apple engineer was charged with stealing trade secrets from a hush-hush self-driving auto technology project days before he quit to go to a Chinese start-up. "This trinity established Steve's vision and created the Apple we know today".

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